RNRL to raise Rs 1,100 crore on preferential basis

Mumbai, Mar 28: Reliance Natural Resources Ltd will raise Rs 1,100 crore through the issue of shares on preferential basis.

The Extra General Meeting(EGM) of the shareholders will be held on April 14 to consider issue of equity shares or warrants through preferential issue in one or more tranches to domestic or foreign institutions, corporate bodies or other investors, the company informed the Bombay Stock Exchange.

The price of the equity shares issued would not be less than Rs 25.65 (including a premium of Rs 20.65) per equity share of Rs 5 each being the price with respect to the relevant date, March 15, 2006, as prescribed under the SEBI Guidelines for preferential issues, it said.

UNI